Minnesota's economic growth ranks No. 11 nationwide

Minnesota’s production of goods and services grew 3.2 percent last year to $243.4 billion.

That tops pre-recession levels and reverses a decline of 2.9 percent in 2009, according to a report released today by the U.S. Bureau of Economic Analysis that breaks down gross domestic product by state.

Minnesota’s economic growth ranks No. 11 among all states and the District of Columbia.

Neighboring North Dakota ranked No.1 with 7.1 percent growth to $32.3 billion. North Dakota’s economy has grown throughout the recession, and its recent unemployment rate has consistently ranked lowest in the nation.

Total GDP by state grew 2.6 percent in 2010 to nearly $13.1 trillion, after declining 2.5 percent in 2009.

Real GDP increased in 48 states and the District of Columbia in 2010. Durable-goods manufacturing, retail trade, and finance and insurance were leading contributors to the upturn in U.S. economic growth.

Source: U.S. Bureau of Economic Analysis

Percent change of real GDP by state, 2009-2010

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Comments (1)

Submitted by John Clawson on June 16, 2011 - 5:09pm.

And yet, to hear some tell it, we are a backward cesspool of a society who has gotten it all wrong politicall/economically, where the job producers have leased every moving van in the state to move themselves and their jobs to more compatilble places (like maybe the Mexican border, Polaris?). We have ranked higher on the economic well-being rankings in earlier years before the last decades of trickle-down economic theory began to hold sway. What we could use in Minnesota is a good second political party. One, say, that would stand up for workers and those who truly make the economy of the state spin.